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Why the Market Dipped But Tyson Foods (TSN) Gained Today
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Tyson Foods (TSN - Free Report) closed at $58.12 in the latest trading session, marking a +0.59% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.2% for the day. On the other hand, the Dow registered a loss of 0.65%, and the technology-centric Nasdaq decreased by 1.79%.
Coming into today, shares of the meat producer had gained 2.9% in the past month. In that same time, the Consumer Staples sector lost 4.29%, while the S&P 500 lost 0.85%.
The upcoming earnings release of Tyson Foods will be of great interest to investors. The company's earnings report is expected on May 6, 2024. On that day, Tyson Foods is projected to report earnings of $0.35 per share, which would represent year-over-year growth of 975%. Our most recent consensus estimate is calling for quarterly revenue of $13.08 billion, down 0.41% from the year-ago period.
TSN's full-year Zacks Consensus Estimates are calling for earnings of $2.35 per share and revenue of $52.76 billion. These results would represent year-over-year changes of +75.37% and -0.23%, respectively.
It is also important to note the recent changes to analyst estimates for Tyson Foods. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Tyson Foods holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Tyson Foods is currently exchanging hands at a Forward P/E ratio of 24.56. This represents a premium compared to its industry's average Forward P/E of 21.36.
We can additionally observe that TSN currently boasts a PEG ratio of 0.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Food - Meat Products industry held an average PEG ratio of 0.46.
The Food - Meat Products industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 8, positioning it in the top 4% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why the Market Dipped But Tyson Foods (TSN) Gained Today
Tyson Foods (TSN - Free Report) closed at $58.12 in the latest trading session, marking a +0.59% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 1.2% for the day. On the other hand, the Dow registered a loss of 0.65%, and the technology-centric Nasdaq decreased by 1.79%.
Coming into today, shares of the meat producer had gained 2.9% in the past month. In that same time, the Consumer Staples sector lost 4.29%, while the S&P 500 lost 0.85%.
The upcoming earnings release of Tyson Foods will be of great interest to investors. The company's earnings report is expected on May 6, 2024. On that day, Tyson Foods is projected to report earnings of $0.35 per share, which would represent year-over-year growth of 975%. Our most recent consensus estimate is calling for quarterly revenue of $13.08 billion, down 0.41% from the year-ago period.
TSN's full-year Zacks Consensus Estimates are calling for earnings of $2.35 per share and revenue of $52.76 billion. These results would represent year-over-year changes of +75.37% and -0.23%, respectively.
It is also important to note the recent changes to analyst estimates for Tyson Foods. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Tyson Foods holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Tyson Foods is currently exchanging hands at a Forward P/E ratio of 24.56. This represents a premium compared to its industry's average Forward P/E of 21.36.
We can additionally observe that TSN currently boasts a PEG ratio of 0.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Food - Meat Products industry held an average PEG ratio of 0.46.
The Food - Meat Products industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 8, positioning it in the top 4% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.